Sun, 15 Feb 2009

Eternal revenue

The man has a point ...

Of all the things I miss about home, I never thought I would feel nostalgic about Her Majesty's Revenue and Customs.

And I also muse on one of the many paradoxes of this country. It fought for its independence from the British Crown to escape the burden of unfair taxes. Now it has one of the most complicated tax codes in the world.

The new Treasury Secretary, Timothy Geithner, said he had made a "careless mistake" in not declaring $34,000 (£23,000) in back taxes.

How could that be? One of the sharpest minds in finance, co-author of the hugely complex and expensive bailout plan for the US banks, and he cannot even fill in a tax form accurately?

I used to have my doubts. But now I am inclined to believe him.

(link) [BBC News]

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